Ownership costs are the costs to purchase and operate a vehicle over a period of time. Understanding these costs may enable you to save money and help you make a wiser decision when choosing your next new car.

Regardless of the “value” claims that you may read in car reviews or hear in advertisements, the economic value of a car is based on how much it will cost to own and operate compared to its purchase price. In a sense, purchase price is “what you pay” and the ownership costs are “what you get.”

Ownership costs can differ greatly. The cost to own and operate two different vehicles with equal purchase prices can differ by thousands. Of course when evaluating ownership cost for used cars and trucks, a vehicle's condition and mileage will greatly impact ownership costs, therefore it's important to compare similar vehicles in similar condition for an accurate picture.

Basic Warranty: The basic warranty covers everything except items that are subject to wear and tear or replacement in the ordinary course of vehicle ownership, such as oil and air filters, wiper blades and brake pads. Tires and batteries are often excluded, but usually have their own warranty provided by the manufacturers of those items. Emissions equipment is required by Federal law to be covered for five years or 50,000 miles.

Drive Train Warranty: In some cases the drive train warranty continues after the basic warranty has expired. This part of the warranty covers most of the parts that make the vehicle move, including the engine, transmission, drive axles and driveshaft. Like the basic warranty, consumable parts such as hoses and belts are not covered. However, most of the internal parts of the engine, such as the pistons and bearings, which are also subject to wear and tear, are covered by the drive train warranty.

Roadside Assistance: Many manufacturers provide a service that will rescue you if your car leaves you stranded, even if it's your fault. Lock yourself our of your car? Run out of gas? Got a flat tire? A call to the manufacturer's toll-free number will result in somebody showing up who can help you out. There is a huge variance in these programs so check ahead of time to see what is covered and what you will have to pay for.

Rust or Corrosion Warranty: Rust or Corrosion Warranty: This warranty covers the vehicle's sheet metal, and protects you from rust and corrosion that are severe enough to cause a hole - surface rust is not covered. However, if you keep your car washed and waxed rust shouldn't be a problem.

CERTAIN AFTERMARKET FUEL FILTERS SOLD UNDER THE PUROLATOR BRAND NAME, P/N F65277, SHIPPED FROM JANUARY 16 THROUGH JUNE 2, 2006, FOR USE ON THE ABOVE LISTED PASSENGER VEHICLES. DUE TO INCORRECT DESIGN, THE QUICK CONNECTORS MAY NOT FULLY SEAT WITH THE TUBE INTERFACE, EVEN THOUGH THE PERSON MAKING THE CONNECTION MAY BELIEVE THAT THE QUICK CONNECTOR IS FULLY ATTACHED.

Consequences:

FAILURE OF THIS CONNECTION COULD LEAD TO FUEL SPILLAGE AND, IN THE PRESENCE OF AN IGNITION SOURCE, A FIRE COULD OCCUR.

Remedy:

UFI WILL NOTIFY OWNERS AND REPLACE THE FILTERS FREE OF CHARGE. THE RECALL BEGAN ON AUGUST 4, 2006. OWNERS MAY CONTACT UFI FILTERS USA AT 800-230-5876.

Ford Motor Company (Ford) is recalling certain model year 2005-2011 Ford Crown Victoria, 2005-2011 Mercury Grand Marquis vehicles manufactured March 23, 2004, to August 30, 2011, and 2005-2011 Lincoln Town Car vehicles manufactured March 8, 2004, to August 30, 2011, and on which the upper intermediate shaft was serviced during the course of safety recall 13V-385. The prior repairs may not have been correctly performed.

Consequences:

Improper servicing of the upper intermediate shaft could cause the shaft to separate, which can then result in a loss of steering control, and increasing the risk of a crash.

Remedy:

Ford will notify the owners of vehicles whose repair records reflect that the upper intermediate steering shaft was repaired during the course of the prior recall 13V-385. Dealers will inspect and replace the upper immediate shaft if necessary free of charge. The recall began November 17, 2014. Owners may contact Ford customer service at 1-866-436-7332. Ford's number for this recall is 14S25.

Ford is recalling certain model year 2005-2011 Ford Crown Victoria (including Crown Victoria Police Interceptors), Mercury Grand Marquis, and Lincoln Town Car vehicles. The affected vehicles are currently registered or were originally sold in Connecticut, Delaware, the District of Columbia, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, and Wisconsin. Severe corrosion can seize the lower intermediate shaft which may cause the upper intermediate shaft to collapse and the steering column lower bearing to separate.

Consequences:

If the lower bearing separates, the vehicle may experience a loss of steering, increasing the risk of a crash.

Remedy:

Ford will notify owners and dealers will replace the lower intermediate shaft, free of charge. The upper intermediate shaft and steering column lower bearing will be inspected to identify any damage that may have occurred as a result of lower intermediate shaft corrosion, and repaired or replaced as necessary. If the steering column lower bearing has separated, a retainer clip will be installed. The recall began on October 23, 2013. Owners may contact Ford at 1-866-436-7332. Ford's recall number is 13S08.

ON CERTAIN PASSENGER VEHICLES, THE BATTERY CABLE INCLUDES A FUSIBLE LINK THAT MAY CONTACT AND SUBSEQUENTLY CHAFE ON A #2 CROSS MEMBER ATTACHING BOLT.

Consequences:

THIS CONDITION MAY RESULT IN HEAT DAMAGE AND COULD LEAD TO A FIRE.

Remedy:

DEALERS WILL INSPECT THE FUSIBLE LINK AND POSITION IT AWAY FROM THE CROSS MEMBER BOLT. IF THE FUSIBLE LINK HAS ALREADY CHAFED AND COPPER WIRES HAVE BEEN EXPOSED, THE FUSIBLE LINK WILL BE REPLACED. THE RECALL BEGAN ON NOVEMBER 18, 2005. OWNERS MAY CONTACT FORD AT 1-800-392-3673, OR LINCOLN/MERCURY AT 1-800-521-4140.